Capital Share Transactions

3 Months Ended

Mar. 31, 2025

Capital Share Transactions [Abstract]

Capital Share Transactions

4. Capital Share Transactions

The Trust creates and redeems Shares on a continuous basis but only in baskets of 10,000 Shares. Only authorized participants, which are registered broker-dealers who have entered into written agreements with the Sponsor and/or the Trust, can place orders to receive baskets in exchange for cash.

The Sponsor and the Trust engage in crypto asset transactions for converting cash into bitcoin and ether (in association with purchase orders) and bitcoin and ether into cash (in association with redemption orders). The Administrator calculates the cost to purchase (or sell in the case of a redemption order) the amount of the Index Constituents represented by the baskets being created (or redeemed). The amount of Index Constituents is equal to the combined NAV of the number of Shares included in the baskets being created (or redeemed) determined as of 4:00 p.m. New York time on the day the order to create or redeem baskets is properly received.

Only authorized participants may place orders to create and redeem baskets through the transfer agent. The transfer agent coordinates with the Trust’s custodians in order to facilitate settlement of the Shares and the Index Constituents.

Capital share transactions in the Trust were as follows:

	For the period January 21, 2025 (initial seed creation date) through March 31, 2025* (Unaudited)
Shares issued		4,310,000
Shares redeemed		(60,000	)
Net increase		4,250,000

* No comparative schedule shown/provided as it is the Trust’s first fiscal year of operations.